Acorah Software Products - Accounts Production 19.3.550 false true false 18 June 2024 30 June 2025 30 June 2025 15786205 Mr Jack Visick Miss Natalie Obrien iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 15786205 2024-06-17 15786205 2025-06-30 15786205 2024-06-18 2025-06-30 15786205 frs-core:PlantMachinery 2024-06-18 2025-06-30 15786205 frs-core:ShareCapital 2025-06-30 15786205 frs-core:RetainedEarningsAccumulatedLosses 2025-06-30 15786205 frs-bus:PrivateLimitedCompanyLtd 2024-06-18 2025-06-30 15786205 frs-bus:AbridgedAccounts 2024-06-18 2025-06-30 15786205 frs-bus:SmallEntities 2024-06-18 2025-06-30 15786205 frs-bus:AuditExempt-NoAccountantsReport 2024-06-18 2025-06-30 15786205 frs-bus:SmallCompaniesRegimeForAccounts 2024-06-18 2025-06-30 15786205 frs-bus:Director1 2024-06-18 2025-06-30 15786205 frs-bus:Director2 2024-06-18 2025-06-30 15786205 frs-countries:EnglandWales 2024-06-18 2025-06-30
Registered number: 15786205
Need Drinks Ltd
Unaudited ABRIDGED Financial Statements
For the Period 18 June 2024 to 30 June 2025
Eastbourne Accountants
Suite 6, The Workshop Wharf Road
Eastbourne
East Sussex
BN21 3FG
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 15786205
30 June 2025
Notes £ £
FIXED ASSETS
Tangible Assets 4 3,962
3,962
CURRENT ASSETS
Stocks 5,500
Debtors 26,667
Cash at bank and in hand 311
32,478
Creditors: Amounts Falling Due Within One Year (33,339 )
NET CURRENT ASSETS (LIABILITIES) (861 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,101
PROVISIONS FOR LIABILITIES
Deferred Taxation (944 )
NET ASSETS 2,157
CAPITAL AND RESERVES
Called up share capital 5 2
Profit and Loss Account 2,155
SHAREHOLDERS' FUNDS 2,157
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For the period ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 June 2025 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Jack Visick
Director
1st October 2026
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
Need Drinks Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 15786205 . The registered office is Suite 6, The Workshop, Wharf Road, Eastbourne, East Sussex, BN21 3FG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents the value, excluding value added tax, of food, drink and other goods sold and venue hire provided during the period. Sales are recognised at the point of sale. Card takings are recognised gross of the processing fees deducted by the payment provider, which are charged to administrative expenses. Venue hire income is recognised when the event takes place.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Straight Line
2.4. Stocks and Work in Progress
Stocks consist of food, drink and consumables held for resale or use in the business and are valued at the lower of cost and net realisable value. Cost is purchase price on a first-in, first-out basis. Provision is made for obsolete, slow-moving and short-dated items.
2.5. Financial Instruments
The company has only basic financial instruments. Trade and other debtors and creditors, amounts due from and to related parties and loans are measured at transaction price less any impairment. Interest-free loans from related parties repayable on demand are held at the amount repayable.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Leases
Rentals payable under operating leases, including the rent charged for the trading premises, are charged to the profit and loss account on a straight-line basis over the period of the lease.
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3. Average Number of Employees
Average number of employees, including directors, during the period was: 8
8
4. Tangible Assets
Total
£
Cost
As at 18 June 2024 -
Additions 4,175
As at 30 June 2025 4,175
Depreciation
As at 18 June 2024 -
Provided during the period 213
As at 30 June 2025 213
Net Book Value
As at 30 June 2025 3,962
As at 18 June 2024 -
5. Share Capital
30 June 2025
£
Allotted, Called up and fully paid 2
6. Related Party Transactions
The company is controlled by its directors, who each hold 50% of the share capital.
Nandini Hospitality Ltd, a company under common control, charged the company rent of £29,348 and owed the company £25,746 at 30 June 2025, interest-free and repayable on demand.
JHV Ltd, a company controlled by Mr J Visick, advanced £10,800 to the company during the period, which remained outstanding at 30 June 2025, interest-free with no fixed repayment terms.
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